Executive Summary
The global ablation technology market size is expected to grow from USD 4.46 billion in 2020 to USD 7.57 billion by 2026 at a CAGR of 9.2%.
A growing number of older people are also conducting targeted cases and contributing to the need for effective treatment. However, re-use and re-processing of devices in developed countries and poor regulatory environment are key factors that limit the growth of this market. Product memory and therapeutic challenges related to the effectiveness of discount products are important challenges that industry players face in the global ablation technology market.
The impact of the coronavirus epidemic and the resulting lockdown closure is being felt in a variety of industries, including the money technology market. The full growth of the various sectors has had a major impact, especially in countries with a high rate of COVID-19 cases, such as China, the US, and several European countries (Russia, Italy, and Spain, among others). While industries such as oil and gas, aeronautics, and mining are experiencing a sharp decline in revenue, health, biotechnology, and pharmaceutical industries are making the situation work for a higher number of patients and health workers.
The ablation technology market has seen business losses, and this trend continued until the end of December 2020. Negative changes in laws and guidelines hamper the growth of the industry. Major regulatory authorities around the world (such as the CDC, WHO, MHRA, TGA, and EMA) have indicated that cancer patients are at greater risk of COVID-19 infection than healthy adults. Therefore, tests, diagnostic tests, and surgical procedures are severely limited or postponed in hospitals and cancer care facilities. This is expected to create disruption in the market of ablation technology.
In recent years, the need for less invasive procedures has increased dramatically because of the benefits that these procedures offer over traditional therapies — fewer surgical complications, short hospital stays, minor pain, minor cuts and cosmetics, reduced risk of infection, reduction. postoperative care, and speedy recovery. Slower invasive procedures use advanced technology to diagnose and treat a variety of ailments, including cancer. These procedures are used to remove cancerous tissue and lymph nodes without scarring. Small-scale techniques come in and help surgeons collect tissue biopsies and accurate studies. This helps surgeons to develop more effective and accurate cancer treatment programs.
The adoption of less ambitious strategies also leads to significant cost savings. A news article published on March 25, 2015, in JAMA (Journal of the American Medical Association), states that a study by researchers at John Hopkins Medicine, a branch of John Hopkins University (US), shows that American hospitals can save together USD 280 million and USD 340 million per year by performing MIS procedures instead of traditional surgery. Since ablation is one of the most widely used low-dose treatments for tissue, AF, and uterine fibroids, the increasing demand for less invasive surgical procedures will increase the number of procedures and contribute to market growth.
The discovery of effective first-line therapies for the treatment of liver cancer, uterine fibroids, hemorrhagic stroke, and other bleeding disorders is an important obstacle to market growth. For example, alternative therapies such as surgery, chemotherapy, and radiation are preferred for cancer treatment because of the high level of individual information about traditional cancer treatment, low acceptance of advanced treatment options (especially in developing countries), and reluctance among oncologists to abandon conventional treatment options.
Emerging markets, including India, China, Mexico, and Brazil, offer great opportunities for growth in the technology market, due to factors such as stakeholder programs in all of these countries, low trade barriers, continuous improvement in health care infrastructure, patient growth, low process costs. compared to disease treatment (compared to developed countries), strict regulatory policies, low competition, and rising health care costs. In addition, these regions have reported an increase in the incidence and prevalence of life-threatening diseases such as heart disease and cancer
According to FDA and EU guidelines, ablation catheters are listed as single-use devices (SUDs). However, the high cost of each unit and the limited reimbursement have led to re-processing and re-use in hospitals with budget constraints. The costs incurred by the hospital / surgical center for recycling and reuse are less than 10% compared to the cost of a new withdrawal device, reducing the total cost of the procedure by about 50%. Germany is among the most important European countries that allow the reuse of SUDs (including catheter ablation), as long as the devices are reconsidered in accordance with regulatory guidelines. In addition, the US is also well on its way to reviewing SUDs — in line with current FDA approvals, fully utilizing a single device use could save US health care more than USD 700 million (Source: MPO Conference, 2021)
By application, the ablation technology market is divided into major categories - cardiovascular disease treatment, cancer treatment, ophthalmological treatment, pain management, gynecological treatment, urological treatment, orthopedic treatment, cosmetic/aesthetic surgery, and other applications. Disease growth and technological advancement in the sector will boost the market growth.
By product, the global ablation technology market is divided into light/laser ablators, radiofrequency ablators, ultrasound ablators, electrical ablators, cryoablation devices, microwave ablators, and hydrothermal ablators/hydromechanical ablators. Each product category is categorized based on applications or sources of energy. A large part of the radiofrequency ablators segment is due to the introduction of novel products by major market players and the increasing adoption of RF ablation technology to treat various conditions, such as cancer, heart disease, and eye diseases.
By type of energy source, the global ablation technology market is divided into light/laser, radiofrequency (RF), electrical, ultrasound, microwave, cryotherapy, and hydrothermal/hydromechanical ablation technology. The low cost of radiofrequency ablation, its easy use, and the increasing geriatric population lead to a growing market for the radio frequency ablation market.
The ablation technology market, by end-user, is divided into hospitals, surgical centers, and ablation centers, ambulatory surgical centers (ASCs), medical spas & aesthetic centers, and other end users. The increase in the number of cancers, sports injuries, and heart conditions is driving the growth of the ablation technology market of hospitals, surgical centers, and ablation centers segment.
The ablation technology market covers five key regions - North America, Europe, Asia Pacific, the Middle East and Africa, and Latin America. In 2020, the Asia Pacific region provided significant opportunities for the growth of the ablation technology market. Market growth in the Asia Pacific can be attributed to increased incidence and prevalence of cancer and heart conditions, technological advances in ablation technology, which increases awareness of less aggressive strategies and opportunities for emerging markets.
The prominent players in the ablation technology market are Johnson & Johnson (US), Medtronic, plc. (Ireland), Abbott (US), Boston Scientific Corporation (US), CONMED Corporation (US), Dornier MedTech (Germany), AngioDynamics, Inc. (US), AtriCure, Inc. (US), Varian Medical Systems (UK), Smith & Nephew plc (UK), Olympus Corporation (Japan), Stryker (US), Cynosure (US) and InMode (US).
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